Fisher Asset Management LLC Decreases Holdings in Hancock Whitney Corporation $HWC

Key Points

• Fisher Asset Management reduced its Hancock Whitney stake by 8.2% in Q4, selling 28,775 shares and ending with 320,218 shares valued at about $20.4 million.
• Hancock Whitney recently reported better-than-expected quarterly earnings of $1.52 per share, though revenue came in below estimates and fell 19.7% from a year ago.
• The company also announced a quarterly dividend of $0.50 per share, implying a 3.0% annual yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $78.14.

Fisher Asset Management LLC cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 320,218 shares of the company's stock after selling 28,775 shares during the quarter. Fisher Asset Management LLC owned 0.38% of Hancock Whitney worth $20,391,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HWC. Torren Management LLC purchased a new position in shares of Hancock Whitney in the fourth quarter worth $32,000. IFP Advisors Inc increased its stake in shares of Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company's stock worth $39,000 after buying an additional 253 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hancock Whitney in the third quarter worth $45,000. Amundi purchased a new position in shares of Hancock Whitney in the first quarter worth $50,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Hancock Whitney by 84,400.0% in the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company's stock worth $53,000 after buying an additional 844 shares during the period. 81.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the sale, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HWC. Zacks Research downgraded shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. DA Davidson lifted their target price on shares of Hancock Whitney from $79.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Piper Sandler boosted their price objective on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Citigroup boosted their price objective on shares of Hancock Whitney from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $78.14.

Hancock Whitney Stock Down 0.6%

Shares of Hancock Whitney stock opened at $67.77 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $65.94 and its two-hundred day simple moving average is $65.69. The company has a market cap of $5.50 billion, a P/E ratio of 13.92 and a beta of 0.97. Hancock Whitney Corporation has a 12-month low of $52.89 and a 12-month high of $75.43.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.04. The business had revenue of $393.64 million for the quarter, compared to the consensus estimate of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The company's quarterly revenue was down 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 EPS. Research analysts anticipate that Hancock Whitney Corporation will post 6.47 EPS for the current year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, June 5th. Hancock Whitney's payout ratio is presently 41.07%.

Hancock Whitney Company Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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